医药行业周报:板块放量反弹 期待年底催化行情

太平洋证券
Nov 17, 2025

报告摘要本周观点&投资建议本周医药板块上涨3.29%,跑赢沪深300 指数4.37pct。板块内部来看,子板块中医药商业、药店、创新药表现相对较好,医疗设备、医疗新基建、医疗耗材则表现居后。我们建议重视医药板块受市场定价权资金变化所带来的增量影响,尤其是布局创新药及相关产业链标的的投资策略:创新药——流动性和风险偏好提升,数据和BD 催化有望成为全年主线。在港股流动性和风险偏好双重提升的背景下,...

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